Name: Decision Making with Excel for Managers
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Created byAsen Gyczew

Last updated 5/2026

English

What you'll learn

Make much better decisions as a Manager
Master data driven approach to decision making
Analyze any decision in Excel using data driven approach
Carry out make-or-buy analysis
Analyze different scenarios in Excel
Analyze in Excel potential investments, strategic decision and pick the best option for your business

Course content

7 sections • 119 lectures • 5h 8m total length

What the course will be about2:04
We begin with a little intro into the course as well as some general info on how the course is organized
A little bit about me1:47
A few words about your humble teacher
How this course will be organized?2:17
Here I will show you how the course is organized and how you can make the most out of it
How to deal with Blurry image2:04
Here I will show you what to do if a blurry image appears
How to reach additional resources1:06
Here I will show you how to find additional resources attached to the course like Excel files, presentations, links, etc.

Basic tools to make decisions – Introduction1:32
In the second section I will show you the essential tools that we will use to make decisions. I will show you what NPV, IRR, time value of money is. Later on we will go through 5 cases where we will apply this frameworks to make specific decisions on whether investment makes sense or not
Essential Excel Formulas0:16
Time value of money3:42
In this lecture, we will discuss the time value of money in other words what is the difference in value between 100 USD received today and 100 USD received tomorrow
Time value of money – in Excel2:30
In this lecture, I will show you how to calculate the time value of money in Excel
NPV – Introduction4:06
In this lecture, we will discuss what NPV - Net Present Value is and how to use it in practice
NPV stands for Net Present Value
NPV is the difference between the present value of cash inflows and the present value of cash outflows over a period of time, usually related to some investment
It’s used to determine whether something (action, investment, etc.) makes sense or not
NPV enables you to make decisions about a specific investment. We will discuss how to use that as well. Later on, we will use this concept extensively to make decisions about investments
NPV – How to use it2:04
In this lecture, we will discuss what NPV - Net Present Value is and how to use it in practice
NPV stands for Net Present Value
NPV is the difference between the present value of cash inflows and the present value of cash outflows over a period of time, usually related to some investment
It’s used to determine whether something (action, investment, etc.) makes sense or not
NPV enables you to make decisions about a specific investment. We will discuss how to use that as well. Later on, we will use this concept extensively to make decisions about investments
IRR2:11
Linked to NPV is the so-called IRR. We will discuss it in this lecture:
IRR stands for Internal Rate of Return
IRR is a discount rate that makes the net present value (NPV) of all cash flows from a particular project equal to zero
IRR tells us how much you would have to earn on a savings account every year to get the same results as from the investment you are analyzing
NPV – How to calculate it in Excel3:58
In this lecture, I will show you how to use the NPV in practice in Excel.
Investments – General thoughts4:04
We will start by sharing some general thoughts on investments, why we do them, and what we want to achieve. We will use this to later on define the way we calculate the expected returns and to check whether the investment makes sense or not
Replacement Investment – Case Introduction1:05
We will have a look how to calculate whether an invesment that replaces current asset makes sense. Here we will use the cases study of sanding machine in the plywood
Replacement Investment – Current Costs3:16
In this lecture, we will solve the previously introduced case study.
Replacement Investment – Future Costs2:07
In this lecture, we will solve the previously introduced case study.
Replacement Investment – NPV4:21
In this lecture, we will solve the previously introduced case study.
Replacement Investment – Solution in Power Point1:32
In this lecture, we will solve the previously introduced case study.
Required by customer investment – Introduction (PET)1:28
Some investments are required by the customer. Such cases study we will analyze in the next few lectures. Our customers asked us to invest in PET (plastic bottles) lines. In next lectures we will analyze whether this investment makes sense
Required by customer investment – Costs3:22
In this lecture, we will solve the previously introduced case study.
Required by customer investment – Benefits1:48
In this lecture, we will solve the previously introduced case study.
Required by customer investment – NPV3:08
In this lecture, we will solve the previously introduced case study.
Required by customer investment – Solution in Power Point1:27
In this lecture, we will solve the previously introduced case study.
Investment in bottleneck removal – Introduction2:07
Different animals are the investment in bottlenecks. Here, we don't look at cost savings but rather the greater impact we can make on the EBITDA. This is what we will analyze in the next few lectures.
Investment in bottleneck removal – Costs3:48
In this lecture, we will solve the previously introduced case study.
Investment in bottleneck removal – Benefits2:40
In this lecture, we will solve the previously introduced case study.
Investment in bottleneck removal – NPV3:04
In this lecture, we will solve the previously introduced case study.
Investment in bottleneck removal – Solution in Power Point2:12
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Retail – Introduction1:14
In the next lectures we will see how to calculate whether an investment that will help us save costs makes sense or not. This time around we will do it for a retailer and we will see whether investment in LED bulbs makes economic sense
Cost reduction Investment – Retail – Current Costs4:08
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Retail – Future Costs2:22
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Retail – NPV2:50
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Retail – Solution in Power Point1:29
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Ceramic Tiles – Introduction1:30
In the next lectures, we will see how to calculate whether an investment that will help us save costs makes sense or not. This time around, we will do it for a ceramic tile producer. We will see whether an investment in robots makes sense
Cost reduction Investment – Ceramic Tiles – Current Costs2:23
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Ceramic Tiles – Future Costs2:41
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Ceramic Tiles – NPV4:22
In this lecture, we will solve the previously introduced case study.
Cost reduction Investment – Ceramic Tiles – Solution in Power Point2:06
In this lecture, we will solve the previously introduced case study.

Option comparison – Introduction1:30
Quiten often you have to compare different options and pick the best one. In this section I will show you different methods. You will learn the following things:
Total cost of ownership
Case Study – rent or buy a house
Case Study – how to shorten the lifespan of a product
Case Study – is better to sell a product or a service
Total cost of ownership2:43
Here we will discuss a very useful concept that is used in business and should be also used when making serious long-term decisions the so called the total cost of ownership
Rent or buy a house – Introduction1:17
Let’s imagine that Peter is considering 2 choice: buying an apartment or renting it. Let’s use the total cost of ownership to see what makes sense.
Rent or buy a house – Rentig cost3:17
In this lecture I will show you the solution to previously introduced case study
Rent or buy a house – The loan4:20
In this lecture I will show you the solution to previously introduced case study
Rent or buy a house – Buying the apartment4:12
In this lecture I will show you the solution to previously introduced case study
Rent or buy a house – Comparison2:05
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Case Introduction1:59
Imagine that you are working for a ceramic tiles producer that wants to change the frequency at which customers are remodeling its houses. Your task is to analyze and decide which way is the best
How to shorten the lifespan of a product – General rules3:49
There are some standard ways to make people shorten the lifespan. In this lecture we will discuss them
How to shorten the lifespan of a product – Current Situation2:46
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Fad2:35
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Lower Costs1:46
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Simplify Exchange1:23
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Parameters2:24
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Comparison1:22
In this lecture I will show you the solution to previously introduced case study
How to shorten the lifespan of a product – Solution in Power Point1:56
In this lecture I will show you the solution to previously introduced case study
From SMCG to service – Introduction – Part 13:03
More and more SMCG businesses are considering switching from just selling the product and loosing track of the customer to selling service which usually, helps you increase your link with your customer base and earn more at the same time
From SMCG to service – Introduction – Part 24:43
More and more SMCG businesses are considering switching from just selling the product and loosing track of the customer to selling service which usually, helps you increase your link with your customer base and earn more at the same time
From SMCG to service – Case Introduction0:53
Here I will introduce the case study of a smart phone producer that wants to shift from product sales to service sales. We will be solving the case study in the next few lectures
From SMCG to service – If sold as a product4:18
In this lecture I will show you the solution to previously introduced case study
From SMCG to service – If sold as a service – Part 13:01
In this lecture I will show you the solution to previously introduced case study
From SMCG to service – If sold as a service – Part 23:01
In this lecture I will show you the solution to previously introduced case study
From SMCG to service – Comparison2:06
In this lecture I will show you the solution to previously introduced case study
From SMCG to service – Solution in Power Point2:41
In this lecture I will show you the solution to previously introduced case study

Rankings – Introduction1:01
In this section I will show you how to use rankings to make decisions. We will see how to enter other coutries using rankings and finding the most promising markets. We will use also use rankings to rank potential boyfriends
Expansion strategy into other countries – Introduction2:23
Creating an expansion strategy requires you to do a number of things. I will show you in this lecture how to approach this subject
Expansion strategy into other countries – Case Introduction2:17
In this lecture I will start the case study that we will be solving for the next few lectures. Imagine that you are a Spanish fashion retailer and you want to figure out which countries you should enter. Therefore, you prepare a ranking of countrires that show attractivness and the size of each and every market.
Expansion strategy into other countries – Data for the case study3:44
In this lecture I will show you the data you need for this case study
Expansion strategy into other countries – Which function to use4:53
In this lecture I will show you the solution to previously introduced case study
Expansion strategy into other countries – Solution in Excel3:32
In this lecture I will show you the solution to previously introduced case study
Expansion strategy into other countries – Solution in Power Point2:30
In this lecture I will show you the solution to previously introduced case study
How to expand the brand – Introduction2:38
Let’s have a look at a milk producer that wants to expand its product range. In this case, you will be asked to analyze and find the best candidates for brand expansions.
How to expand the brand – Solution – Part 13:29
In this lecture, I will show you how to solve the case shown in the previous lectures.
How to expand the brand – Solution – Part 22:58
In this lecture, I will show you how to solve the case shown in the previous lectures.
How to expand the brand – How to create the Scatter Graph3:12
In this lecture, I will show you how to solve the case shown in the previous lectures.

Make it or buy it – Introduction1:28
As a manager, you will quite often have to decide whether to do something internally or buy it from 3rd party supplier. In this case, you have to perform a make-or-buy analysis. We will discuss this in detail in this section
Delegating some work to others – Case Introduction1:25
We are back to Maria. Using the previous case study we will try to decide which activities she should delegate using the make-or-buy analysis.
Delegating some work to others – Analysis of activities2:57
In this lecture I will show you the solution to previously introduced case study
Delegating some work to others – Summary1:47
In this lecture I will show you the solution to previously introduced case study
Make-or-buy courses – Case Introduction1:37
Imagine that you have to analyze for a consulting firm whether it makes sense or not to produce an online course devoted to Data Science. In this lecture, I will show you a few pieces of information about the firm that we will use to pick the optimal solution.
Make-or-buy courses – Make Option3:51
In this lecture we will solve previously introduce case study. We will have a look at the make option
Make-or-buy courses – Buy Option1:50
In this lecture we will solve previously introduce case study. We will have a look at the buy option and we will compare make and buy options.
Make-or-buy courses – Comparison2:40
In this lecture we will solve previously introduce case study. We will have a look at the buy option and we will compare make and buy options.
Make it or buy it – When to make even if it is more expensive2:42
In some cases even if it is more expensive to make than to buy it still makes sense to make:
There is no content on the right level
Your standard differs from the general standards
You treat the teaching system also as a standardization tool
You grow drastically in terms of people
You want to keep the knowledge to yourself
There are no specialists in a specific area
Legal reasons & NDAs

Decision making under uncertainty – Introduction1:26
As a manager quite often you will have to somehow take into account the uncertainty. In this section we will see how we can take it into account to make better decisions. We will discuss here: voting models, backward logic, strategic alignment framework, value proposition framework, portfolio decision framework
Decision Tree Analysis – Introduction3:12
Quite often you have to make important decision faced with uncertainty. In those situation it is very useful to apply the so called decision tree. In this lecture I will show you how to use this technique
Decision Tree Analysis – Solution2:30
Quite often you have to make important decision faced with uncertainty. In those situation it is very useful to apply the so called decision tree. In this lecture I will show you how to use this technique
Scenario analysis – Introduction3:21
Let's see how you can use the scenario analysis to deal with uncertainty. Here I will explain what it is and later on we will use it in a cases study
Which price formula is the best for my profits – Introduction2:47
Price formula in B2B services can drastically impact the margins and net profit. In this lecture we will go through a case that will show you how to approach analysis of price formula with uncertainty on the scenario that will happen
Which price formula is the best for my profits – Solution – Times & Materials3:47
In this lecture I will show you how to solve the case shown in the previous lectures
Which price formula is the best for my profits – Solution – Mixed Options2:37
In this lecture I will show you how to solve the case shown in the previous lectures
Voting models – Introduction3:32
A lot of decisions can be made using voting. The are 4 main things you have to decide on:
What is the majority rule / threshold to vote in favor of an option?
How many votes each person eligible to vote has?
Are all votes treated equally or some people have preferred votes?
Does anybody have the veto right?
We will discuss in this lecture some examples of voting systems
Voting models – Case Introduction1:01
Imagine that you have to decide which new type of aircraft to start servicing
We will first vote on Dreamliner B787
We will use 3 different models of voting
We will also see how the many vote model works
Voting models – Case Solution – One vote2:35
Voting models – Case Solution – Preffered vote1:26
In this lecture I will show you how to solve the case shown in the previous lectures
Voting models – Case Solution – Veto2:35
In this lecture I will show you how to solve the case shown in the previous lectures
Voting models – Case Solution – Many votes2:11
In this lecture I will show you how to solve the case shown in the previous lectures
Voting models – When it makes sense to use them1:33
In this lecture I will show you how to solve the case shown in the previous lectures
Backward logic2:43
In this lecture, I show backward thinking /induction. This approach enables you to design the whole process, company on the basis of the expected outcome
Backward logic based decisions – Case Introduction1:03
Let’s try to put the backward reasoning to practice. In this case study we will use it to decide what effort has to be done to 10x the current business. A few information about the retailer
He has currently 100 stores. Each store sales are equal to EUR 2 M
He wants to 10x the business up to Year 5
Estimate what LFL growth he must get and how many stores he must open
Assuming EUR 1 M per store estimate the Capex
Estimate how many people he has to recruit assuming 6 people per store
Backward logic based decisions – Solution4:10
In this lecture I will show you how to solve the case shown in the previous lectures
Backward logic based decisions – When it makes sense to use it2:14
Backward logic can be used in many situations. Below some of them
You have a clear goal in the future but not a clear path towards it
You want to estimate the pace needed to reach the goal
You want to check the implications for you or your department
You want to see what are the limitations preventing you from reaching the goal
You want to see whether the goal is not too ambitious
You want to see whether the goal does not require too big resources
Strategic alignment framework – Introduction3:32
In the strategic alignment framework, we divide projects into 4 groups using 2 criteria:
Is it aligned with the overall strategy?
Estimated impact
I will show you in the next lectures how to use this in practice.
Strategic alignment framework – Case Introduction2:02
Imagine that you have to help a producer of products from milk to decide which projects he should implement and which to neglect
A few pieces of information about the firm
They want to 3x EBITDA in 5 years
They have defined a strategy for the next 5 years
They have 10 projects that they consider
Let's help them select projects given their strategy
Strategic alignment framework – Overiew of Projects4:53
In this lecture, I will show you how to solve the case shown in the previous lectures.
Strategic alignment framework – Did we achieved the goal2:49
In this lecture, I will show you how to solve the case shown in the previous lectures.
Strategic alignment framework – When it makes sense to use it2:15
The strategic alignment framework can be used in many situations. Below are some of them
You have many projects
Projects were generated by different departments
Projects are not necessarily aligned with the strategy
You have limited resources (money & people)
The organization has to be focused
There are many stakeholders
Value proposition alignment framework – Introduction3:12
In the value proposition alignment framework you select projects that will be the most efficient in improving customer satisfaction
Below how you should use the value proposition alignment framework to make the decisions
Define the customer segment
Define the value proposition for the segment
Pick the metric & measure the current state
List projects that will improve the situation
Select projects and implement
Value proposition alignment framework – Cases Introduction0:53
Now let’s help Fast Food Salad Chain pick the right projects to improve the customer value proposition.
A few information about the salad chain
100 location in Easter Europe
Their NPS is currently 30%
They want to improve the NPS to 50%
They are analyzing 6 different projects
Value proposition alignment framework – Data Available2:51
In this lecture, I will show you the data you will need to solve the case study
Value proposition alignment framework – Overview of Project Part 13:54
In this lecture I will show you how to solve the case shown in the previous lectures
Value proposition alignment framework – Overview of Project Part 23:47
In this lecture I will show you how to solve the case shown in the previous lectures
Value proposition alignment framework – Solution Summary3:24
In this lecture I will show you how to solve the case shown in the previous lectures
Value proposition alignment framework – When it makes sense to use it3:07
Let's see when it makes sense to use the value proposition framework
Portfolio decision making – Introduction3:10
In many cases, you don’t have to be right on every decision but only on average. In this case, portfolio decision making comes in handy
Below how you should use portfolio management to make decisions
List potential projects you consider
Estimate their potential impacts & probabilities
Group them by risk groups
Define the number of projects you will invest in
Pick the projects diversifying the risk
Portfolio decision making – Case Introduction0:33
Let’s have a look at a plywood producer that considers 15 different projects
3 plants
They have 15 investment ideas
Use portfolio management to decide which one to pick
You cannot spend more than EUR 30 M
Portfolio decision making – Available Data3:05
In this lecture I will show the data available for the case study that you will need to solve the case
Portfolio decision making – Solution in Excel4:22
In this lecture, I will show you how to solve the case shown in the previous lectures
Portfolio decision making – When it makes sense to use it2:20
In this lecture I will show you how to solve the case shown in the previous lectures

Requirements

Basic or intermediate Excel
Basic knowledge of economics or finance

Description

What is the aim of this course?

As a manager, you will be tempted to trust your gut and use your experience to decide what and how to do it. Quite often, this approach may be misleading. It is much better to use a data-driven approach, and before you make the decisio,n look at the potential consequences. In this course, I will show you how to make more rational choices as a manager using Excel. We will go through a lot of case studies that will help you master this skill.

In the course, you will learn the following things:

How to be data-driven in solving problems
How to make better decisions using Excel
How to handle uncertainty when you are making decisions
Which method, or framework, should you use in a specific situation

This course is based on my 15 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, performance improvement, and turn-arounds in the biggest firms from the Retail, FMCG, SMG, B2B, and services sectors that I worked for. I have carried out or supervised over 90 different performance improvement projects in different industries that generated a total of 2 billion in additional EBITDA. On the basis of what you will find in this course, I have trained in person over 100 consultants, business analysts, and managers who are now Partners in PE and VC funds, Investment Directors and Business Analysts in PE and VC, Operational Directors, COO, CRO, CEO, Directors in Consulting Companies, Board Members, etc. On top of that, my courses on Udemy were already taken by more than 315 000 students, including people working in EY, Walmart, Booz Allen Hamilton, Adidas, Naspers, Alvarez & Marsal, PwC, Dell, Walgreens, Orange, and many others.

I teach through case studies, so you will have a lot of lectures showing examples of analyses and tools that we use. To every lecture, you will find attached (in additional resources) the Excel files, as well as additional presentations, and materials shown in the lectures, so as a part of this course, you will also get a library of ready-made analyses that can, with certain modifications, be applied by you or your team in your work.

Why have I decided to create this course?

I had the pleasure to support numerous Managers, Directors, COOs, and CEOs, and I have noticed that making decisions is a complicated process that requires a lot of data and the right approach to balancing the pros and cons. You also have to take into account the uncertainty that managers have to deal with on a daily basis. When you transition from a specialist to a manager or a director, usually nobody shows you how to make decisions using a data-driven approach. We will try to fix this gap. This course will help you master numerous techniques that will make your life easier and help you make the right decisions.

To sum it up, I believe that if you want to be a successful manager and CEO, you should master techniques and frameworks that will help you make better decisions. I will show in this course numerous useful methods and will teach how to use them in practice. That is why. I highly recommend this course not only to young managers and entrepreneurs but also to senior managers who want to learn a data-driven approach to decision-making.

In what way will you benefit from this course?

The course is a practical, step-by-step guide loaded with tons of analyses, tricks, and hints that will significantly improve the speed of analyzing and making decisions. There is little theory – mainly examples, a lot of tips from my own experience, as well as other notable examples worth mentioning. Our intention is that, thanks to the course, you will learn:

How to be data-driven in solving problems
How to make better decisions using Excel
How to handle uncertainty when you are making decisions
Which method, or framework, should you use in a specific situation

You can also ask me any questions either through the discussion field or by messaging me directly.

How is the course organized?

The course is currently divided into the following sections:

Introduction. We begin with a little intro to the course, as well as some general info on how the course is organized
Basic tools to make decisions. In the second section, I will show you the essential tools that we will use to make decisions. I will show you what NPV, IRR, and time value of money are. Later on, we will go through 5 cases where we will apply this framework to make specific decisions on whether the investment makes sense or not
Option comparison. In this section, I will show you how to compare different options. We will go through 3 cases: how to shorten the lifespan of a product, whether it makes sense to transition from selling a product to selling a service (SMCG), and what is a better choice, to rent or to buy an apartment.
Rankings. In this section, I will show you how to use rankings in practice. In one case, we will analyze entering foreign markets. In the second example, we will use the framework to pick the perfect boyfriend for a friend
Make-or-buy Analysis. As a manager, you will quite often have to decide whether to do something internally or buy it from a 3rd-party supplier. In these cases, you have to perform a make-or-buy analysis. We will discuss this in detail in this section
What to do when there is a lot of uncertainty. As a manager, quite often you will have to somehow take into account the uncertainty. In this section, we will see how we can take it into account to make better decisions. We will discuss here: voting models, backward logic, strategic alignment framework, value proposition framework, portfolio decision framework

You will also be able to download many additional resources

Ready-made analyses that you can use for your firm
Tools that you can use for your firm
List of useful resources
Links to additional presentations, articles, and movies
Links to books worth reading

At the end of my course, students will be able to…

Make much better decisions as a Manager
Master a data-driven approach to decision making
Analyze any decision in Excel using a data-driven approach
Carry out a make-or-buy analysis
Analyze different scenarios in Excel
Analyze in Excel potential investments and strategic decisions, and pick the best option for your business

Who should take this course? Who should not?

Managers who want to make better decisions
Owners of small and mid-sized businesses
Management Consultants and Business Analysts
Startup Founders

What will students need to know or do before starting this course?

Basic or intermediate Excel
Basic knowledge of economics or finance

Who this course is for:

Managers who want to make better decisions
Owners of small and mid-sized businesses
Management Consultants and Business Analysts
Investment Analysts working in PE or VC
Startup Founders

What you'll learn

Explore related topics

Course content

Introduction5 lectures • 9min

Essential tools to make decisions.34 lectures • 1hr 27min

Option comparison24 lectures • 1hr 3min

Rankings11 lectures • 33min

Make-or-buy analysis9 lectures • 20min

What to do when there is a lot of uncertainty35 lectures • 1hr 35min

Conclusions1 lecture • 1min

Requirements

Description

Who this course is for: